The DJIA retook the 16,000 level to end the week in the black as crude oil soared
The
Dow Jones Industrial Average (DJIA) ended the day with a gain of more than 200 points, as
a huge rally in oil spurred stocks higher. Crude oil for March delivery saw the biggest one-day percentage gain since August, settling back atop the $32-per-barrel level. The DJIA and the
S&P 500 Index (SPX) also
retook significant round-number thresholds -- 16,000 and 1,900, respectively -- to notch their first weekly wins of 2016.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 16,093.51) finished the day up 210.8 points, or 1.3%, with Apple Inc. (NASDAQ:AAPL) leading 27 winners with a 5.3% gain. Credit card giant American Express Company (NYSE:AXP) was the big loser of the day, falling 12.1% on dismal earnings. For the week, the DJIA climbed 0.7%.
The S&P 500 Index (SPX - 1,906.90) added 37.9 points, or 2%, to end the week with a 1.4% gain. The Nasdaq Composite (COMP - 4,591.18) was the biggest winner, posting a gain of 119.1 points, or 2.7% today, and 2.3% for the full week.
The CBOE Volatility Index (VIX - 22.34) lost 4.4 points, or 16.3%, for its lowest close in more than a week. For the week, the VIX gave up 17.3%.
5 Items on Our Radar Today:
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According to the U.S. Centers for Disease Control and Prevention (CDC),
a strain of listeria found in Dole Food's packaged salads sent 12 to the hospital and resulted in one death. Dole says it has stopped processing at the Springfield, Ohio-based plant where the packages originated, and withdrew all similar products produced at this facility. (
Reuters via
CNBC)
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Existing home sales for the month of December jumped 14.7% -- the
largest single-month increase on record. But that doesn't mean the real estate market is booming; new mortgage rules delayed many closings in November, pushing sales into the following month. (
MarketWatch)
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Apple Inc. (NASDAQ:AAPL) and Alphabet Inc (NASDAQ:GOOGL) bounced back.
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Why these 3 stocks missed out on today's rally.
Data courtesy of Trade-Alert
Commodities:
As the East Coast gets slammed with harsh winter weather, cold temperatures boosted demand for heating oil. This, combined with short covering and a decline in operating rigs in the U.S., sent March crude oil surging $2.66, or 9%, higher, to settle at $32.19 a barrel -- its largest single-day percentage gain since August. For the week, crude oil added 5.9% (comparing front-month contracts).
Amid
hints of stimulus from overseas and a strengthening greenback, dollar-denominated gold for February dwindled $1.90, or 0.2%, for a close of $1,096.30 an ounce. Still, the metal added 0.5% on a weekly basis.